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I RARR - CHATS I
By: W. H. Lyne |
= County Agent
Weekly, this office receives a copy of “Farm Flashes For Bankers” which are prepared jointly by Dr. Harry M. Love, Agricultural Economist of V. P. I. and Murry G. Via, Vice President . .Farm Credit and Service Dept, of the First National Exchange Bank of Roanoke. I consider Farm Flashes to be very pertinent to our thinking and planning, how ever I would appreciate comments from Rappahannock News readers as to whether or not they desire further publication of information of this type.
Situation by Dr. Harry M. Love, the sage who said, “There is nothing so enduring as chance,” is forever being confirmed. Not having sufficient historical records of our own, it becomes necessary, to look elsewhere for indicators of some change in farming that have crept up on us unnoticed by many. Information recently released by Cornell University shotvs striking contrasts in two sets of records ■on a group of 14 farms in Tompkins, county, New York. The first records were taken in 1907; the second in 1947. Forty years ago the farms averaged 114 acres; are now 174, Cows per farm have increased fiom 12 to 23. The real estate investment 40 years ago averaged $4,614; now it’s $10,486. Machinery, stock, etc. represented an average of $1832 per farm; now it’s $12,022. Total capital investment has jumped from $6,446 to $22,502. Cash expenses averaged $562; now they average $3086, or an increase from 35 percent of receipts in 1907 to 73 percent in 1947. Forty years ago those farmers could have lost an amount equal to their cash expenses for 12 consecutive years before using up the capital invested.
Now ( 1 9 4 7 ) cash expenses would eat up the capital in only two and one half years. These farms have grown larger, are doing more business, require more capital, make more money in good times, could lose more and faster in hard times. You see now why it is harder for a young man to get started farming than 40 years
The nation’s farm income during the first quarter of 1950 is estimated to be about five per cent under that for the corresponding period last year.
69.7%